IIT-B’s reality show for budding entrepreneurs
This reality show is not about finding the perfect bride or landing a role in a movie, but attracting a venture capitalist.Called the Vulture’s Nest, it is a contest to be hosted by the Indian Institute of Technology, Bombay at its annual entrepreneur summit in February. Kiran Wadhwa tells more...mumbai Updated: Dec 07, 2009 01:15 IST
This reality show is not about finding the perfect bride or landing a role in a movie, but attracting a venture capitalist.
Called the Vulture’s Nest, it is a contest to be hosted by the Indian Institute of Technology, Bombay at its annual entrepreneur summit in February.
Instead of making presentations to judges, budding entrepreneurs — those with start-ups, not just business plans — will have to pitch their ideas to a panel of investors in 15 minutes.
“This is a dynamic form of an investor pitch,” said Digvijay Naik, a student member of the institute’s entrepreneurship cell.
The final round will have 10 candidates pitching to four investors, one of who is US-based venture capitalist Taj Haslani.
“All 10 might get funding if the panelists like their pitches,” said Harsha Vardhana, a student who is the show’s marketing head.
The contest will go on air on ET Now channel, starting January. The US and the UK have similar shows, but it’s a first in India.
IIT-B will invite submissions from December 10 to January 4. Those selected will pitch their ideas at auditions in Delhi, Bangalore and Mumbai on January 16 and 17. There will be 10 finalists.
Haslani sees this as an opportunity to invest in India. “It is good for start-ups without access to large venture capitalists and private equity firms,” he said.